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1. The Hiari Company had the following items on its December 31, 20X0, balance sheet and 20X0 income statement (in dollars except for number of shares outstanding) (Click the icon to view the data.) Requirement 1. Prepare in proper form the December 31, 20x0, balance sheet and the 20X0 income statement for Hiani Company, Inckude the proper amount for additional paid-in capital balance sheet. Start with the assets section, and then prepare the lbitles and shareholders' equity section to compiete the statement Hiari Company Balance Sheet ASSETS Current Assets Total current assets Noncurrent Assets Less: 6) Total noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Total current liabilities Noncurrent Liabilities Total noncurrent liabilities Tolal liabilities Shareholders Equity Print 16 18 Total shareholders' equity Total labilites and sharehciders' equity Now prepare the 20X0 income statement (Use a minus sign or parentheses for an other expense and/or a net total other expense. Round earnings per share to the nearest cent.) Hiari Company Income Statement Year Ended December 31, 20X 19 Gross margin Income from operations Other (expense) income: 23) Total other (expense) income Income before income taxes (24) Net income Earnings per share 1: Data Table Cash and equivalents S 102.000 1.150,000 10,000 125,000 49,000 100,000 78,000 50,000 34,000 Notes payable Long-term debt, excluding current portion Accounts recelivable, net Provision for income taxes Other long-term assets Interest expense Deferred income tax Bability-long-term Retained earnings Income taxes payable Cost of sales Inventories Prepaid expenses Common stock 20,000 shares outstanding) Property, plant, and equipment, at cost Accounts payable Interest income Goodwill, patents, and trademarks Current portion of long-term debt Less: Accumulated depreciation Selling and administrative expenses Additional paid-in capital 40,000 19,000 640,000 O Additional paid-in capital O Cash and equivalents OCommon stock (20,000 shares) O Cost of sales O Current portion of long-term debt O Accounts payable O Deferred income tax liability-long-term O Income taxes payable O Accounts receivable, net O Accumulated depreciation O Interest expense O Interest income O Goodwill, patents, and trademarks O Long-term debt, excluding current portion O Selling and administrative expenses O Net property. plant, and equipment Notes O Other long-term assets O Prepaid expenses OProperty. plant, and equipment, at cost O Provision for income taxes O Retained earnings O Additional paid-in capital O Cash and equivalents O Current portion of long-term debt O Deferred income tax liability-long-term O Accounts payable O Accounts receivable, net O Common stock (20,000 shares) O Income taxes payable O Accumulated depreciation O Cost of sales expense O Net property, plant, and equipment O Interest income O Goodwill, patents, and trademarks O Long-term debt, excluding current portion O Selling and administrative expenses O Property. plant, and equipment, at cost O Provision for income taxes O Retained earnings O Revenues payable O Other long-term assets O Prepaid expenses O Additional paid-in capital O Cash and equivalents O Current portion of long-term debt O Deferred income tax lability-long-term O Accounts receivable, net OCommon stock (20,000 shares) Income taxes payable O Accumulated depreciation O Cost of sales O Interest expense O Interest income O Goodwill, patents, and trademarks O Net property, plant, and equipment O Property, plant, and equipment, at cost O Notes payable O Other long-term assets O Prepaid expenses O Provision for income taxes O Retained earnings Long-term debt, excluding current O Selling and administrative expenses tion Revenues O Additional paid-in capital O Cash and equivalents O Common stock (20,000 shares) O Current portion of long-term debt O Deferred income tax liability-long-term Income taxes payable O Accounts receivable, net O Accumulated depreciation Cost of sales O Interest expense O Interest income O Goodwill, patents, and trademarks O Long-term debt, excluding current portion Prepaid expenses O Selling and administrative expenses O Net property, plant, and equipment O Notes payable Property, plant, and equipment, at cost O Provision for income taxes O Retained earnings O Accounts payable O Accounts receivable, net O Accumulated depreciation O Additional paid-in capital O Cash and equivalents O Common stock (20,000 shares) O Cost of sales O Current portion of long-term debt O Deferred income tax liability-long-term O Income taxes payable O Net property, plant, and equipment O Notes payable O Other long-term assets Property, plant, and equipment, at cost O Provision for income taxes O Goodwil, patents, and trademarks O Long-term debt, excluding current portion Prepaid expenses O Seling and administrative expenses O Additional paid-in capital O Cash and equivalents O Current portion of long-term debt O Accounts payable O Deferred income tax liability-long-term O Income taxes payable O Accounts receivable, netO Common stock(20,000 shares) O Accumulated depreciation O Cost of sales O Interest expense O Interest income O Goodwill, patents, and trademarks O Long-term debt, excluding current portion O Selling and administrative expenses O Net property, plant, and equipment O Notes payable 0 Other long-term assets O Prepaid expenses O Property, plant, and equipment, at cost O Provision for income taxes O Retained earnings O Revenues O Additional paid-in capital O Cash and equivalents 0 Common stock (20,000 shares) O Current portion of long-term debt O Deferred income tax liability-Hong-term 0 Income taxes payable D Inventories O Accounts payable Accounts receivable, net O Accumulated depreciation O Cost of sales O Interest expense O Interest income O Goodwill, patents, and trademarks O Long-tem debt, excluding current portion O Prepaid expenses O Selling and administrative expenses O Net property, plant, and equipment O Notes payable O Other long-term assets O Property, 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